Question

Why is my interest reward missing from my past 2 monthly summaries?


Userlevel 3
  • Carbon Cutter*****
  • 12 replies

Last month I did not receive my 5% interest reward, I was assured it would be added to this month’s statement but not only has this not been done but this month’s is also missing. 

After also being incorrectly charged a £60 exit fee last month I am becoming increasing disillusioned with Ovo and the constant errors, I dread my bill each month as it means an inevitable phone call to attempt to rectify the mistakes, which apparently is not working!


3 replies

Userlevel 7
Badge +4

Hi there @MrsH ,

I’m really sorry to hear about the trouble there. If you haven’t already done so, it may be worth bringing this up via the Complaints process, which OVO is extremely good at resolving first time.

Given that you’ve got a 5% OVO Interest Reward though, that suggests you’ve been with OVO for quite a long time. Have you ever noticed your online account suddenly look very different to how it was previously? If so, that might provide some clues as to what’s happening here.

I’ll let @Jess_OVO know about this thread as well, just in case she can offer any other advice.

Userlevel 6

Really sorry to hear you’ve faced some more account issues, @MrsH.

 

Have you ever noticed your online account suddenly look very different to how it was previously? If so, that might provide some clues as to what’s happening here.

 

 

Some spot on detective work from our community volunteer, @Blastoise186!

 

Sounds like you may have recently moved to our new billing platform, which would also include a move to a new online account. Does your account homepage now look something like this? -

 

Exact appearance may vary

 

This move means your interest reward is now calculated slightly differently (more details on this here) but sounds like there could be a technical glitch if you’ve not see this added at all. In this case we would encourage you to contact the Support Team, who can raise this one to our tech team - the easiest way to contact the team is via our Webchat - there’s a link to this here.

 

Hope we can get this one resolved quickly for you - let us know the outcome, we’d love to hear when your interest reward payments are restored. :slight_smile:

Userlevel 7
Badge +4

One thing I have noticed recently is that if you make changes to your Direct Debit payments too close to the next one and the resulting payment for that month is skipped, you won’t get the Interest Reward for that month - however in these cases it should be backdated and catch up with the missing interest the next time a Direct Debit goes in. I've tested that recently and my Interest Reward was doubled on the following month to make up for the skipped rewards.

Please rest assured that there is a way to backdate any and all missing Interest Reward payments and you should get them all at once on the next billing cycle after the issue is fixed. There have been a small number of accounts that had a few technical gremlins while being migrated over, but I know that getting these fixed up is definitely pretty high on the priority list.

We’ll be here if you need us though, so please keep us posted.

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